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Investor Presentaiton

1. Details of Consolidated Financial Results for FY19 (3) Financial Results by Segment (ii) Merchandise sales Items FY19 (Results) FY18 (Results) Revised forecast (Nov. 2019) Change Amount affected due Ratio Ratio to TIAT consolidation Amount affected due to TIAT consolidation Rate of Change Difference Ratio Amount affected due to TIAT consolidation Millions of yen Millions of yen % Millions of yen Millions of yen % Millions of yen % Millions of yen Millions of yen Millions of yen % Sales to external customers Domestic terminal stores 33,148 22.2 36,212 20.9 -3,063 -8.5 35,700 21.0 -2,551 International terminal stores 84,420 56.6 53,171 98,515 57.0 59,316 -14,094 -14.3 98,700 58.0 62,200 -14,279 Other sales Subtotal 30,323 20.3 147,893 99.1 -45,447 36,745 21.2 -48,484 -6,421 -17.5 34,700 20.4 -54,400 -4,376 7,723 171,472 99.1 10,832 -23,579 -13.8 169,100 99.4 7,800 -21,206 Intersegment sales 1,378 0.9 539 1,523 0.9 607 -144 -9.5 1,100 0.6 100 278 Total 149,272 100.0 8,263 172,996 100.0 11,440 -23,724 -13.7 170,200 100.0 7,900 -20,927 Operating expenses Operating income 138,448 92.7 6,472 157,235 90.9 8,377 -18,787 -11.9 154,600 90.8 5,400 -16,151 (Ratio) 10,823 7.3%) 7.3 1,790 15,760 9.1 (9.1%) 3,062 -4,936 -31.3 15,600 9.2 2,500 -4,776 (-1.8P) (9.2%) ( -1.9P) ⚫ Domestic terminal stores: • International terminal stores: Decrease in sales of directly managed stores at Haneda domestic terminal Decrease in sales of directly managed stores at Haneda international terminal Decrease in sales of directly managed stores at Narita Airport . Other sales: Decrease in sales of urban duty-free stores Decrease in wholesale sales to Narita Airport Decrease in wholesale sales to other regional airports 20 20 3.0 billion 6.3 billion 4.6 billion - 3.0 billion. 2.4 billion 3.8 billion Note: Figures shown are rounded down to the nearest million yen.
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